their fund opinions team looks like it covers all the secondaries transactions in terms of modeling, and FSG covers all the relationship side. what's the secondaries team in PFG actually doing day to day besides drafting CIMs and other marketing?
| +405 | Evercore Intern Seizure | 62 | 6h |
| +113 | UBS IB Americas has failed, now behind Santander and Stiffel | 31 | 44m |
| +79 | JPM M&A is Gone??? Purely Coverage Banking??? | 44 | 2m |
| +60 | How do I understand vs. just memorizing? | 11 | 10h |
| +48 | Losing my personality in Banking | 9 | 2d |
| +45 | The good and bad with Wells Fargo | 14 | 1h |
| +42 | Associate & Above IB exits | 18 | 11h |
| +41 | Sent my Claude prompt to 200+ Teams chat. MD wants to see me Monday. | 23 | 1h |
| +33 | Incoming IB Analyst: Best Ways to Prepare? | 13 | 8h |
| +33 | Some banks are overrated as fuck | 10 | 5h |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
Fund opinions isn’t banking it’s in their valuations group. FSG is just maintaining relationships. Secondaries is, well, secondaries
spoke to someone in fund opinions and they said they covered secondaries/continuation funds as well
They do fairness opinions, not deal execution. It’s like a $750k fee to sign off on the fairness of the valuation.
The secondaries advisory team and the FO teams don’t work on the same deals… that would be a clear conflict of interest.
i see thanks, been trying to figure out more about secondaries and can't find the most info online
They don’t even do fairness opinions. Its portfolio valuation that dies fund opinions and the process isn’t transactional at all
was more curious about the secondaries side, but if they dont do fairness opinions who is fund opinions working for/doing in the process?
There is a dedicated secondaries team working on the transaction, but for a fund opinion, it is just the portfolio valuation group. They don’t work with secondaries team. The PV group (which is also fund opinions technically but the work is the same) values each asset getting transferred over and says the mark the PE fund wants is reasonable. They don’t work in the process or transaction so the day to day is the same as PV. Fund opinions isn’t banking (it’s for continuation funds) but secondaries is. Hopefully that helps
Voluptates quis sunt doloremque dicta doloremque sed qui. Delectus aut omnis est nulla earum sint. Autem et qui odio dolores pariatur odio. Veritatis ipsum consequatur itaque ut placeat eaque. Placeat quia et quisquam. Hic dicta expedita eum aut itaque dolor.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...